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Bills & Online Bankingby Debbie Vasen | More from this Blogger Have you noticed that your billing statements often arrive quite close to their due dates? During the busy holiday season, as the post office is more strapped for time, many customers are finding their statement arriving in such little time before they are due. For someone living from paycheck to paycheck, this can be tricky for budgeting. In addition, if you travel frequently or don't have time to review all your monthly statements when they arrive, you may find yourself paying late, thus incurring late fees or interest payments. The Fair Credit Billing Act does set standards on when companies must send their bills. The current regulations require them to mail billing statements at least 2 weeks prior to their due date. The key here is the two weeks start when they mail it to you. If you live in a rural area with slower mail... that could dramatically cut into your lead times. Changing to online banking can help this dilemma. These days it is easier and actually even more secure than standard mail. Moreover, it is faster and cheaper... especially with the rising costs of both stamps and checks! Still, many people are hesitant to switch to online banking. If you are considering, take a few baby steps first. 1. Set up online access to your various accounts. Credit cards, cable companies, phone, and even some utilities use these services. This will allow you to monitor your balances and due dates easily online. 2. Use automatic bill paying. Some companies will deduct your bill from your credit card and others your bank account. While you will still have to stay on top of your bills, this will certainly ensure you pay on time. If online banking still seems too scary, at the very least you can arrange a set billing date with your accounts. Then keep track of these dates on your calendar. This will keep you organized and on top of your bills. Related Articles: *The Benefits of Banking Online *Paying Bills on Time can Save you Money Learn more about Debbie Vasen  Debbie Vasen is a published web content editor and writer, as well as a freelance writer for various print publications. In addition to blogging at Families. Relevant money tags |
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